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Capped Prices - Possible fall in prices next year???

Last post Tue, Oct 28 2008, 1:39 PM by conmankiller. 1 replies.
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  •  Tue, Oct 28 2008, 6:28 AM

    Capped Prices - Possible fall in prices next year???

    I took the advice of Martin Lewis, all be it a bit late and capped my fuel prices until July 2010 after rumours of a possible price hike come January 09. However now there are rumours of a possible price cut next year and since the Government are piling on the pressure with Energy companies, what is the likely outcome of this? Have I made a big mistake in capping my prices? I know to a certain extent it's a bit of a gamble, but I only capped them a month ago and already it's looking like a mistake.

    • Post Points: 20
  •  Tue, Oct 28 2008, 1:39 PM

    Re: Capped Prices - Possible fall in prices next year???

    I held back on recommendations to cap my charges thinking that a reduction would be inevitable. I could not see the energy companies continuing to offer capped price incentives if they were expecting their supply prices to carry on rising.

    Like you say though it was a gamble. !

    When / if they do fall, you would have to weigh up the penalty charge of withdrawing, against the savings to be made by switching back to an un-capped tariff.

    • Post Points: 5